Blog
Punggol and Sengkang Residents – Expect Your Home Value to Go Up! Here’s Why
Published 23 July 2024
If you live in Sengkang or Punggol, your choice to invest in these two towns may soon pay off as new data by Ohmyhome Research shows potential gains for home sellers in the near future. It all boils down to supply and demand. Let’s break it down.
Future Prospects for Sengkang and Punggol
Expected supply of HDB flats in Sengkang
Year Completed
# of 2-room Flats Sold
# of 3-room Flats Sold
# of 4-room Flats Sold
# of 5-room Flats Sold
# of Executive Flats Sold
2021
2621
4109
31958
24585
4463
2022
3154
4213
32348
24858
4463
2023
4228
4387
33026
25432
4463
2024
4665
4479
33242
25980
4463
2025
4665
4479
33242
25980
4463
2026
4665
4479
33242
25980
4463
Expected supply of HDB flats in Punggol
Year Completed
# of 2-room Flats Sold
# of 3-room Flats Sold
# of 4-room Flats Sold
# of 5-room Flats Sold
# of Executive Flats Sold
2021
3525
5662
24395
17552
1126
2022
4602
5916
25218
18070
1126
2023
4989
6014
25551
18192
1126
2024
6209
6204
26364
18656
1126
2025
6209
6204
26364
18656
1126
2026
6209
6204
26364
18656
1126
Over the next three years there will be no Executive Apartments to be expected in these two areas, and lesser 4-room and 5-room flats will be built.
Instead, there will be more 2-room and 3-room flats to cater to the changing demand of Singaporeans as singles, elderly, and married couples without children now make up the majority of home buyers in the market.
With a reduced supply of 4-room and 5-room flats, and Executive Apartments, these homeowners can expect a steeper growth in home value, especially given the popularity of Sengkang and Punggol today. You can now easily track your home valuation as it rises using Homer AI, your new Home Ownership & e-Valuation Report AI tool built by Ohmyhome, trained to provide you with only the most crucial insights on your home.
Both towns have excellent connectivity with convenient transportation options for commuters and the Tampines Expressway (TPE) and Kallang-Paya Lebar Expressway (KPE) for those who drive. Both towns also boast excellent educational institutions, including reputable primary and secondary schools, as well as international schools.
It’s also important to note that the North-East region, where Sengkang and Punggol are located, is the second largest and most densely populated in the whole of Singapore, indicating a high demand for properties in this area.
Additionally, there will be no new supply of HDB flats in these two towns after 2024. This is due to the lack of BTO flats slated to be launched in Sengkang and Punggol; the only BTOs to be expected in the area are those that were affected by construction delays during the pandemic.
Notable new BTOs
2-room
3-room
4-room
5-room
3-Gen
Total
Expected Completion
Punggol point Cove
504
92
312
234
30
1172
March 2024 (Covid Delays)
Punggol Point Wood
387
98
333
122
/
940
September 2023 (Covid Delays)
Punggol Crown
716
98
501
230
/
1545
March 2024 (Covid Delays)
Rivervale Shores
1074
174
678
574
/
2500
September 2023 (Covid Delays)
Fernvale Vines
437
92
216
148
40
933
January 2024 (Covid Delays)
Due to Covid, all of these projects have been pushed back with the latest batch of BTOs expected to be completed in March 2024.
With the lack of new BTO launches resulting in a reduced supply of HDB flats in Sengkang and Punggol, coupled with the expected surge in demand from eager buyers, property prices in these areas could soar to rival housing prices in mature estates, and therefore long-term growth for Sengkang and Punggol is expected to be positive.
A new way to get key insights about your property
We have more insights like this for you every week with Homer AI – simply log in and you’ll be updated with the current market trends in Sengkang and/ or Punggol.
If you have any questions, feel free to drop us a message on WhatsApp or chat with us via our Live Chat at the bottom, right-hand side of the page.